CHF Solutions Applauds U.S Congress Request to U.S. International Trade Commission to Identify Products to Treat COVID-19

Rhea-AI Summary

CHF Solutions (Nasdaq: CHFS) commended a U.S. Congressional request for the US International Trade Commission (USITC) to investigate U.S.-sourced medical supplies for COVID-19. The bipartisan request aims to enhance medical supply security, particularly for the medical device sector. CEO John Erb highlighted the Aquadex SmartFlow system's role in treating COVID-19 patients, emphasizing its efficacy in managing fluid overload. The device allows precise fluid extraction, beneficial during this pandemic. CHF Solutions focuses on innovation in ultrafiltration therapy, with a commitment to patient care amid COVID-19 challenges.

Positive

• CHF Solutions supports U.S. Congress's request for USITC investigation, enhancing medical supply security.
• Aquadex SmartFlow system effectively manages fluid overload in COVID-19 patients.
• The device allows precise fluid extraction, providing better treatment outcomes.

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• None.

EDEN PRAIRIE, Minn., Aug. 27, 2020 (GLOBE NEWSWIRE) -- CHF Solutions (Nasdaq: CHFS), a medical device company dedicated to improving the lives of patients suffering from fluid overload, today commended a request from the U.S. Congress to the U.S. International Trade Commission (USITC) concerning the availability of U.S.-sourced medical supplies to treat COVID-19 and future pandemics.

Following up on prior USITC reports, the House Committee on Ways and Means and Senate Committee jointly issued a formal request on August 13, 2020, calling on USITC to conduct a follow-on investigation and prepare a report to Congress, which is expected to aid Congress in making “critical policymaking decisions” concerning U.S. COVID-related industry sectors, including the medical device industry.

“CHF Solutions is grateful for Congress’ important efforts to ensure medical supply security and identify U.S. sources for products needed by our dedicated healthcare professionals treating critically-ill patients with COVID-19,” said John Erb, CEO of CHF Solutions. “As the country continues to manage patient care during this pandemic, the Aquadex SmartFlow™ system, manufactured in Minnesota, has been used in several hospitals to treat fluid management for COVID-19 patients, especially when dialysis equipment and staff are limited.”

As recently cited, isolated ultrafiltration is an optimal strategy that primarily focuses on fluid extraction and optimization of volume status.¹ The Aquadex SmartFlow system, a portable ultrafiltration device with small extracorporeal volume (i.e. 35 ml), provides a predictable method for fluid extraction, making it more likely to achieve precise fluid balance in COVID-19 patients.  Providers can specify and adjust the exact amount and rate of fluid to be removed from each patient.

¹ https://pubmed.ncbi.nlm.nih.gov/32336959/

About CHF Solutions

CHF Solutions, Inc. (CHFS) is a medical device company dedicated to changing the lives of patients suffering from fluid overload through science, collaboration, and innovation. The company is focused on developing, manufacturing and commercializing the Aquadex SmartFlow system for ultrafiltration therapy. CHF Solutions is headquartered in Minneapolis, Minn., with wholly-owned subsidiaries in Australia and Ireland. The company has been listed on the Nasdaq Capital Market since February 2012.

About the Aquadex SmartFlow System

The Aquadex SmartFlow system delivers clinically proven therapy using a simple, flexible and smart method of removing excess fluid from patients suffering from hypervolemia (fluid overload). The Aquadex SmartFlow system is indicated for temporary (up to 8 hours) or extended (longer than 8 hours in patients who require hospitalization) use in adult and pediatric patients weighing 20 kg or more whose fluid overload is unresponsive to medical management, including diuretics. All treatments must be administered by a health care provider, within an outpatient or inpatient clinical setting, under physician prescription, both having received training in extracorporeal therapies.

Forward-Looking Statements

Certain statements in this release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements about the outcome of the report from the U.S. International Trade Commission.  Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including, without limitation, those risk associated with our expectations regarding the potential impacts of the COVID-19 pandemic on our business operations, our ability to execute on our commercial strategy, the possibility that we may be unable to raise sufficient funds necessary for our anticipated operations, our post-market clinical data collection activities, benefits of our products to patients, our expectations with respect to product development and commercialization efforts, our ability to increase market and physician acceptance of our products, potentially competitive product offerings, intellectual property protection, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and other risks and uncertainties described in our filings with the SEC. Forward-looking statements speak only as of the date when made. CHF Solutions does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACTS

INVESTORS:

Claudia Napal Drayton 
Chief Financial Officer, CHF Solutions, Inc. 
952-345-4205


MEDIA:

Jessica Stebing
Health+Commerce
260-336-6202

FAQ

What is CHF Solutions' recent press release about?

CHF Solutions commended a U.S. Congressional request for the USITC to investigate the availability of U.S.-sourced medical supplies for COVID-19.

How does the Aquadex SmartFlow system benefit COVID-19 patients?

The Aquadex SmartFlow system allows precise fluid extraction, which helps in managing fluid overload in COVID-19 patients.

What role did Congress play regarding medical supplies for COVID-19?

Congress issued a request to the USITC to investigate U.S. sources for medical supplies needed for COVID-19 treatment.

When was the congressional request to USITC made?

The formal request was made on August 13, 2020.

What is the significance of the USITC report for CHF Solutions?

The report is expected to assist Congress in policymaking decisions regarding the medical device industry, potentially benefiting companies like CHF Solutions.